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Earnings support European stocks ahead of GDP data

Published 30/04/2021, 08:28
© Reuters.
BARC
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BNPP
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SWMA
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AZN
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AZN
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STOXX
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
April 30 (Reuters) - European stocks inched higher on
Friday, as strong corporate earnings lifted investor spirits
ahead of the release of euro zone economic growth data for the
first quarter.
The pan-European STOXX 600 index .STOXX was up 0.2% by
0720 GMT. The benchmark hovered below its all-time high and was
on course to end April 2.3% higher.
British drugmaker AstraZeneca (NASDAQ:AZN) AZN.L gained 2.7% on
reporting better-than-expected results and forecasting sales
growth. Swedish Match SWMA.ST rose 1.9% after the tobacco group
reported a much higher first-quarter operating profit than
expected. However, Barclays BARC.L tumbled 6.2% despite reporting a
quarterly profit that more than doubled, while France's BNP
Paribas BNPP.PA slipped 1.0% after better-than-expected
profit. All eyes are now on the euro zone's GDP data due at 0900
GMT. The economy is forecast to have shrunk 2% in the first
quarter versus a 4.9% fall in the final quarter of last year.

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